"The Monterey City Council met Tuesday, continuing the discussion of the city's $10 million deficit that they are trying to rectify through the 2026-2027 fiscal year budget, which starts in July. The council voted unanimously to declare a fiscal emergency, which city officials said was needed in order to place new tax measures on the ballot. The council then voted to start the process of placing a .375 cent tax measure on the ballot and plans on voting on a parking tax as well."
"The 0.375 cent sales tax is projected to generate about $4.5 million annually. The parking tax is projected to generate between $279,000 and $791,882 annually, depending on implementation and compliance. In a poll of Monterey residents, the survey showed about 57% of residents would vote in favor of a .0375 cent sales tax, over nine years. But only about 44% would vote in favor of a parking tax."
"Several current and former members of NCIP spoke during public comment, almost all of them echoing that the committee preferred that the council take funds from next year's NCIP allocation instead of pulling from projects that had already been approved. Because the agenda item was a presentation, the council did not make any decisions, but council members expressed a desire to move forward."
The city declared a fiscal emergency to place new tax measures on the summer ballot to address a $10 million deficit by the 2026-2027 budget. The council unanimously began the process to put a 0.375-cent sales tax on the ballot and consider a parking tax. The sales tax is projected to raise $4.5 million annually; the parking tax could yield $279,000 to $791,882 depending on implementation. A poll showed roughly 57% support for the sales tax over nine years and about 44% support for a parking tax. NCIP listed potential projects to cover about $3.5 million and urged using next year’s allocation rather than approved projects.
Read at www.montereyherald.com
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